Published: Tue, January 09, 2018
Money | By Armando Alvarado

Discovery to Leave Maryland

Discovery to Leave Maryland

- Discovery Communications announced on Tuesday, following its merger with Scripps, the company will relocate its global headquarters in Silver Spring, Maryland, to New York City next year.

Just previous year, Discovery announced plans to renovate the headquarters and consolidate employees there in exchange for state and Montgomery County incentives.

Discovery Communications made a big announcement - saying it will be moving its National Operations Headquarters to Knoxville once it finalizes its $14.6 billion purchase of Scripps Networks. Discovery will maintain government relations and other functions that need to operate in the nation's capital.

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It's anticipated that Discovery will leave its One Discovery Place headquarters building in Silver Spring in 2019. Montgomery County and the state of Maryland contributed to the renovations, Maryland through a conditional loan.

The company said its media facility in Sterling, Virginia will become a global technology center in the near future, and it plans to develop its "technology footprint" into Knoxville as well.

"The decision to move our global headquarters from its founding home is one we do not make lightly", said Discovery CEO David Zaslav. "Featuring a compelling environment and infrastructure, Knoxville is a self-contained campus with many amenities and benefits for a National Operations Headquarters, including low cost of living, built-in facilities, and operational capabilities". "We have therefore made the hard decision to reduce our footprint in Maryland over time, with the ultimate closure and sale of our One Discovery Place headquarters building in Silver Spring expected in 2019", Zaslav said in the memo.

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